Mentoring Program?

My wife and I recently attended a seminar on REI given by a local company. The company has been operating for 15 years or so. The deal they are offering is $5000 for the privilege of being ‘mentored’ in the field.

As they explained in the seminar, the mentoring process involves 24 hours of classroom instruction in the REI process, lingo, tactics(?) followed by a 30 day hand holding period where they essentially walk you through your first deal. It sounds as if they even travel with you to view prospect properties and give you a list of there lenders and contractors. Also they are offering a “lending library” of reference materials.

My wife and I were wondering if anyone else has had any experience of this sort and if they would recommend it? Comments from experienced investors would be welcome.

Thank you and may we all grow rich together (or at least semi-wealthy).


Howdy Lizard:

When you finish the course I have a statue for sale in New York for only $5000. If you want some courses go to the local community college for a few hundred bucks. If you want field training get out there and learn the business. Birdogging is one way to learn and earn.

I just bought Wade Cooks entire wealth building $1000 course at a garage sale for $5. I have gotten others too for pennies on the dollar.

I’ve seen that statue! It’s the one with the torch right? $5,000 seems like a real bargain. :wink:

I definitely see your point though. My wife and I are both intelligent people and should have no problem educating ourselves in the field.

However, with this type of investing there seems to be a psychological hurdle to be overcome initially. My wife and I are afraid of making a rookie mistake and losing our shirts.

I guess the closest analogy I can make is a first time surgeon. You know the text book, you’ve seen it done a couple of times, but it still feels nice to have another doctor standing there when you start cutting.

Thanks for your reply and advice. Every bit helps.

I disagree somewhat… I feel you should pay for some sort of training, but I don’t like the nationwide guys who are not in your town.

I feel you should get a LOCAL mentor to help you. They’re not as expensive, and help is more readily available.

Look for a REI club in your town and start from there. You can typically find someone that might even be free thats just willing to hold your hand a bit.